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Melbourne's median house price sits around $1,050,000 in early 2026. Inner-city medians exceed $1.5M while outer suburbs like Melton and Wyndham offer medians of $550,000–$700,000. The median unit price is approximately $600,000.
For the median Melbourne house (~$1.05M) with a 20% deposit, you need approximately $271,000 total including deposit, stamp duty, and fees. First home buyers purchasing under $600,000 can save over $31,000 with the stamp duty exemption.
No stamp duty on properties up to $600,000. A sliding concession applies between $600,001 and $750,000. Above $750,000, full stamp duty applies. Victoria also offers FHOG of $10,000 for new homes under $750,000.
Yes. Melbourne's median house is roughly $370,000 cheaper than Sydney's, and Victorian stamp duty is lower at middle price points. Total upfront costs for a median house are about $76,000 less in Melbourne than Sydney.
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